Jindal Steel jumps 4% as board okays pref allotment to promoters

Friday, March 31, 2017, 12:59 PM

Shares of Jindal Steel & Power climbed nearly 4% in Friday’s trade after company told stock exchanges that its board has approved allotment of convertible warrants to promoter group entity. In a filing to BSE, company said Its board members have approved issue of 4.80 crore convertible warrants to Opelina Finance and Investments, a promoter group entity on preferential basis, subject to shareholders’ approval.